Exchanges Tokens - page 9. | Bitcointalksearch.org

totoy4741

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Quote from: Thanasis on October 22, 2019, 02:50:09 AM

Quote from: Darooghe on October 22, 2019, 01:32:44 AM

I don't agree. As long as exchange users benefit from tokens, it will not be worthless and will attract other exchanges users to it for more profits. As a BNB holder, you directly benefit from the profits binance makes. Because profits from the exchange are used to burn coins, this creates a basic supply/demand incentive.

If there were only 100 BNB tokens left, and binance made $10 million dollars for the quarter, they would spend $100,000 to buy back and burn each coin. Obviously a lot of people will hold, so the value will keep increasing and attracts more investors. I am a BNB maximalist, and i regret selling my $10,000 BNB into shitcoins and now building back my pile. But sadly shitcoins all fell on average over 90% while BNB is about to hit new highs soon.

OP is talking about what if that exchage completely shuts down or lose their reputation after years? If that means those exchange's tokens might not have any value right.

I think so too, cause those native exchange tokens are mainly for trading fees purposes only inside its designed exchange platform. And since they don't support or any product they the be used to their value might end up zero once the exchange that supports that native token shuts down.

Flush-Grey

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Quote from: Python Master on March 26, 2020, 09:41:49 PM

Quote from: TheClownSong on March 26, 2020, 09:28:24 PM

The price of a native token exchanger in my opinion has the potential to rise if the value of market cap or transactions in the cryptocurrency market continues to increase. Native tochers from large exchangers have greater opportunities because they have a clear roadmap and are usually used as token utilities to reduce transaction fees or participate in IEO

Yeah it's right. Exchange tokens are always my priority investment. My past investments in BNB, OKB and KCS gave me huge profits. I invested in them when Binance started their first IEO and at that time OKEx and KuCoin didn't have IEO yet, but i know they was preparing, so i decided to invest. Now I'm holding BNB and expect to sell it at $17, I bought BNB at $9.2.

Just don't deal with small crypto exchanges from shitty jurisdiction. For example, look at this Turkish exchange. My money is on them exit scamming soon.

https://bitcointalksearch.org/topic/sistemkoin-scams-users-and-hustle-project-sistemkoin-will-exit-scam-soon-5235763

Python Master

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Quote from: TheClownSong on March 26, 2020, 09:28:24 PM

The price of a native token exchanger in my opinion has the potential to rise if the value of market cap or transactions in the cryptocurrency market continues to increase. Native tochers from large exchangers have greater opportunities because they have a clear roadmap and are usually used as token utilities to reduce transaction fees or participate in IEO

Yeah it's right. Exchange tokens are always my priority investment. My past investments in BNB, OKB and KCS gave me huge profits. I invested in them when Binance started their first IEO and at that time OKEx and KuCoin didn't have IEO yet, but i know they was preparing, so i decided to invest. Now I'm holding BNB and expect to sell it at $17, I bought BNB at $9.2.

TheClownSong

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Quote from: Estrange18 on March 26, 2020, 03:52:05 PM

I am holding part of my portfolio in Exchange tokens like OKB, BNB, HT, GT. and i can say that compare to other altcoins, they are much more stable in general. For example when hole market falling by 25% Exchange tokens may lose 15-20%. Thats kind of my monitoring for the last year.

The price of a native token exchanger in my opinion has the potential to rise if the value of market cap or transactions in the cryptocurrency market continues to increase. Native tochers from large exchangers have greater opportunities because they have a clear roadmap and are usually used as token utilities to reduce transaction fees or participate in IEO

Hellkas

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I think that exchange tokens will be alive, because exchanges are the enter for all people in crypto world, so when there will be hype, and I`m sure that hype will be and exchange tokens price will be very high because of it

Estrange18

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DAO MAKER

I am holding part of my portfolio in Exchange tokens like OKB, BNB, HT, GT. and i can say that compare to other altcoins, they are much more stable in general. For example when hole market falling by 25% Exchange tokens may lose 15-20%. Thats kind of my monitoring for the last year.

kingzpro

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DIFX - Digital Finacial Exchange

I know exchanges with their tokens are in trend but still i will advice to never get into fomo to invest in any similar project because i have already seen projects like these failing and closing, just research about cobinhood with token cob, similarly ironx with irx token seems dead and bcnex exchange with their token also seems to have scammed investors, only legit i know is binance with bnb coin which has proven to be a great investment as the exchange periodically buys back bnb from a percentage of fee they earn from traders.

Slingshot

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You are absolutely right, most exchange tokens even ends up dumping on investors , I have really seen many especially those that folded on the long process. If exchanges could adopt thus measure stated above by you it will certainly make their native token potential and worth investing even if they ends of folding as they could be traded on other exchanges than just going like that. I do appreciate this idea brough by you.

BitSat19

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OP done good job with good topic but recently we have some good things about these tokens as now Binance is doing MoU's for using their tokens for many other ways like now we can book hotels and resorts with these tokens and few other exchanges like Hotbit is also doing some good marketing for this which is going in right way for investors as this will bring more revenue and profit with investors confidence also rise for these tokens.

doctor877

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For now exchange tokens will majorly the purpose of being used on the respective exchange. Majority of exchange platform build their token to function in capacity of the exchange platform. I think that is enough for them if they serve the purpose rightly.

Alohadanc3

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Yes, you are right. At this moment almost every exchange have their own coin. Centralised and decentralised both. And most of these coins have no use than fees paying and some priority based rewards. Suddenly if the exchange face a crash the coin would surely go to zero.
But now many exchange like binance is doing some good some like separate chain and make exchange coin main coin of they chain. Dec based on that chain. Partnership with other projects to use that chain . I think In this structure if someday exchange start to collapse then somehow the coin and the community will survive.

10BTCaDay

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Quote from: enhu on December 08, 2019, 07:46:22 AM

New exchanges even DEX are creating tokens, I an one of the supporter of Vitex exchange and you can see it with my avatar, this exchange distributes dividends to its VX holder which feels good to hold than using native tokens for the trade frees. DEX today are doing these to gain support, Weidex is just one of them and I think they are also starting to get some trust from users.

vitex is really one of the very powerful projects that were selected by the centralized exchange Binance during the community vote. the coin has a very strong growth potential. the most important thing is that these exchanges will continue their development

Chuky92

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Your idea is a good one but remember every altcoin's utility is tied to the project itself, like Ethereum, any project launching on its blockchain will use its coin for various purposes, in the same way, all exchanges tokens are used for various services within the exchange as well. Although it is possible to integrate a token into another platform, but even if the token is integrated into other services, any day the project fails who will be encouraged to hold? No one. So it still comes down to, any platform be it exchange or not to continue developing so that their token will be valuable. There should be services, features, events etc which will make users to be attracted which of course will lead to more activities in the exchange.

Bossfidelity

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Exchange tokens is one of the most popular tokens in the cryptocurrency space. Several exchanges, have their own tokens which is used majorly for transaction fees within the exchange. Some good exchange like binance have their tokens trading on several platforms and this has contributed to the increase in the value of the tokens. Its wise if other exchanges, imitate this strategy to boost their token presence in the cryptocurrency space.

sapnu

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Quote from: Bonenx14 on December 08, 2019, 03:25:50 PM

Quote from: JCviggen on December 08, 2019, 01:48:10 PM

Quote from: enhu on December 08, 2019, 07:46:22 AM

New exchanges even DEX are creating tokens, I an one of the supporter of Vitex exchange and you can see it with my avatar, this exchange distributes dividends to its VX holder which feels good to hold than using native tokens for the trade frees. DEX today are doing these to gain support, Weidex is just one of them and I think they are also starting to get some trust from users.

More recently, Vitex became the Binance community coin. I also think that if this project is supported by such an exchange as a Binance, then you should pay your attention to it. But now it’s not a good entry point to this coin, because, after the news about the Binance, the price rose very quickly. Better to wait for the correction

Better to wait for a price correction than to follow the flow to buy it. but if he has strong research then the biggest decision is in his hands, but for me it is better to wait for correction than to follow to buy it. Even though it is supported by Binance exchange, we have to look again at whether it is only FOMO or really profitable

There are actually lots of exchanges produced since cryptocurrency started and there are also lots of scam exchanges in which they can easily take away your money. Because of that, we should be aware of our choice because it may cause loss of money which is very important to us. There are exchanhe that can recommend by other traders in which you can really trade safe because the security is high and you can trade easily because they have a lot of features in ehich they can give you fast transaction. There are lots of exchange now giving every trader a bonus for a reason maybe for giving them your loyalty, for you to use their exchange always.

Bonenx14

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Quote from: JCviggen on December 08, 2019, 01:48:10 PM

Quote from: enhu on December 08, 2019, 07:46:22 AM

New exchanges even DEX are creating tokens, I an one of the supporter of Vitex exchange and you can see it with my avatar, this exchange distributes dividends to its VX holder which feels good to hold than using native tokens for the trade frees. DEX today are doing these to gain support, Weidex is just one of them and I think they are also starting to get some trust from users.

More recently, Vitex became the Binance community coin. I also think that if this project is supported by such an exchange as a Binance, then you should pay your attention to it. But now it’s not a good entry point to this coin, because, after the news about the Binance, the price rose very quickly. Better to wait for the correction

Better to wait for a price correction than to follow the flow to buy it. but if he has strong research then the biggest decision is in his hands, but for me it is better to wait for correction than to follow to buy it. Even though it is supported by Binance exchange, we have to look again at whether it is only FOMO or really profitable

betty11

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Nowadays, every exchange wants to have their native token, and many end of scamming people by dumping heavily after first pumping it to attract traders. Just check CET, Xbase, Catt. It's not a most that exchanges create coins.

Twentyonepaylots

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Quote from: HammadAli on December 08, 2019, 03:28:10 AM

Quote from: ?? on ??

BNB has a large community supporting it outside the Binance exchange. Is not it? The success of an exchange coin directly depends on the reputation of the exchange itself. BNB is a great example when the exchange’s reputation has allowed its coin to become successful.

So if binance gets hard times would BNB the same as it is now? Binance just manipulates the price of BNB by supporting it so it cannot drop through non influencencial demand and supply. Are they afraid of it?

If binance gets hard time , which is the least likely to happen cause they are performing so well, maybe they'll just manipulate it to attain such balance. I guess they were creating their own coins to back their business, it is like a plan B whenever they are getting hard times. Mostly these coins are just a market strategy giving themselves a chance to make a reputable platform, like binance coin, it is listed on many exchange so people could see it paired with other coin and come to think of it eventually.

JCviggen

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Quote from: enhu on December 08, 2019, 07:46:22 AM

New exchanges even DEX are creating tokens, I an one of the supporter of Vitex exchange and you can see it with my avatar, this exchange distributes dividends to its VX holder which feels good to hold than using native tokens for the trade frees. DEX today are doing these to gain support, Weidex is just one of them and I think they are also starting to get some trust from users.

More recently, Vitex became the Binance community coin. I also think that if this project is supported by such an exchange as a Binance, then you should pay your attention to it. But now it’s not a good entry point to this coin, because, after the news about the Binance, the price rose very quickly. Better to wait for the correction

PuertoLibre

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Quote from: Shallow on December 07, 2019, 12:52:12 PM

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.

This is really good and a nice point of view, but let's take it from another perspective, every coin in this space has its use case or the reason it is being created for right? Like, to launch a new project on Ethereum blockchain, ETH is needed etc. So, in the same way, in every exchange the utility of their token lies within that exchange in question and might be hard having another uses outside the exchange because there might be competition with those already existing. This is a nice suggestion though, but in my own opinion, might not work as it might bring distraction to the team; there is no harm in trying though if only they can wish to try it out.

The real usage outside of exchange is not cased unless there is a risk of exchange shutdown. Even if there are dark clouds over the exchange, the market will be priced at the right time, it is hard to prepare for such events. What will happen to Kucoin shares if the hackers wash the cold wallet of exchange in 10 minutes? The news will spread on social media and everyone will rush to the Kucoin for selling. Guess what, the exchange froze the deposit/withdrawals and the order books are paused right after the panic in the exchange. The big long red candle will appear on the chart and no one will be able to get rid of their trades. Possible scenario.

Topic: Exchanges Tokens - page 9. (Read 33510 times)